The Bounce

The market bounced as anticipated. Before it did, the market put in another triple digit down day for the DJIA on Monday to lure more shorts into the market before it heads back up toward potential resistance level. One can call this rally the “dead cat bounce”, “oversold rally”, or “end of the quarter window dressing rally”. In regardless what label to use for this bounce, the real question is where will this market go from here?

Not only did the market bounced, gold also had a bounce off near the 115 support level as mentioned in “The Head Fake” video. In addition, AAPL also had a small bounce off the 390 level that was depicted on the chart posted in “The Bias”.

Here is a video summarized what the market has done in the last week of Q2, 2013 and what are some possible levels the market might target. Also in the video, a look at AAPL and GLD price action.

Click here to view the video if you do not see a video player on your screen.